The PetroCaribe energy accord of 2005 stands at a point of significant uncertainty, according to a report from Scotiabank, posing substantial risks to Central American and Caribbean member states. While the collapse of the agreement is not a certainty, the fiscal dependence on Venezuela created by the agreement, which provides subsidized Venezuelan gasoline, is unsustainable in the eyes of many, including the IMF and Scotiabank. Updated 5 Years ago

Works at the new 169bn-peso (US$12.9bn) Mexico City international airport are scheduled to begin next month, said Gerardo Ruiz, head of Mexico's transport and communications ministry SCT. Initial works include involve soil improvement, road connectivity and water infrastructure works, Ruiz said in a SCT release. Updated 5 Years ago

Mexico's state oil firm Pemex saw record demand for a 28bn-peso (US$2.1bn) debt issuance at fixed and variable rates on the local market. The total amount could be modified once the over-subscription option is exercised, the firm said in a press release. Updated 5 Years ago

After pouring about $1 billion nine years ago into Alibaba Group Holding Ltd., Yahoo! Inc. (YHOO) is set to reap a massive haul as the Chinese e-commerce company goes public: more than $8 billion. Alibaba said yesterday in a regulatory filing that it and shareholders like Yahoo plan to sell 320.1 million American depositary shares for $60 to $66 apiece in the Chinese company’s U.S. initial public offering. Yahoo, specifically, will sell 121.7 million of its Alibaba shares, reaping as much as $8.03 billion. Yahoo would still retain a 16.3 percent stake in the Hangzhou, China-based company following its public market debut, according to the filing. Updated 5 Years ago

Alibaba Group Holding Ltd., the e-commerce company whose fortunes surged along withChina’s economy, plans a historic U.S. initial public offering that may also claim the global record. Alibaba is seeking a valuation of as much as $162.7 billion, larger than 95 percent of the Standard & Poor’s 500 Index, as it enters the IPO’s final stages. At the high end of the proposed price range, Alibaba would be the third most valuable Internet company traded in the U.S. after Google Inc. and Facebook Inc. The offering could raise as much as $21.1 billion, according to a Sept. 5 regulatory filing. Updated 5 Years ago

Harvard University received a record donation of $350 million for its public health school from the family foundation of real estate developers Gerald and Ronnie Chan of Hong Kong-basedHang Lung Group Ltd. (10) The gift from the Chan brothers’ Morningside Foundation is focused on addressing pandemics, humanitarian crises, failing health systems and social and environmental threats to health, said Julio Frenk, dean of the Harvard School of Public Health in Boston. The school will be renamed the Harvard T.H. Chan School of Public Health in honor of the Chans’ late father. Updated 5 Years ago

Carlyle Group LP (CG), the world’s second-largest manager of investment alternatives to stocks and bonds, raised $3.9 billion for its fourth Asia buyout fund as it bets economic growth in the region will drive deals. The final amount exceeds a targeted $3.5 billion, bringing the firm’s assets under management in Asia funds including Japan to $13.6 billion, the Washington-based company said in a statement today. The latest pool is 53 percent bigger than the $2.55 billion compiled for its previous Asia fund in 2010. Updated 5 Years ago

Russia's Gazprom Bank and oil producer Gazprom Neft will fall under new sanctions approved by the European Union on Friday, Reuters cited an EU diplomat as saying. The sanctions reportedly include a new ban on raising capital in the 28-nation bloc. The sanctions were agreed against Russia for its alleged role in the Ukrainian crisis, the diplomatic source said. Updated 5 Years ago

The official data showed imports dropped by 2.4% from the year before, though, which left the country with a record surplus of $49.8bn (£30.7bn). The unexpected dip in imports was seen by economists as a sign of ongoing weak domestic demand on the mainland. Updated 5 Years ago

It is the Swedish company's biggest deal and gives it a bigger presence in the US to take on rival Whirlpool. Electrolux, which sells under brands such as Zanussi and AEG as well as its own name, is the world's second-largest home appliance maker after Whirlpool. Updated 5 Years ago